If you’re thinking about divorce, you might be worried about whether or not your spouse will be entitled to half your personal bank account. In the state of Oklahoma, divorcing couples go through what is called equitable property division, meaning all of their marital property is split as fairly as possible. This could mean your personal bank account may be up for division.
Determining Separate vs Marital Property
Depending on your situation, you and your spouse could be sharing a bank account, with both spouses depositing and withdrawing money. Because of this sharing of accounts, this type of situation would consider the account to be marital property, rather than separate property.
Can You Empty Your Bank Account Before Divorce?
If you manage to keep your bank account completely separate, you may be able to prove to the court none of your money could be considered marital property. This can only be done if your account was never commingled with marital property or if you can somehow trace the funds in your individual bank account to determine whether it is marital or separate and by how much.
Remember, the more you shared your financial assets with your spouse, the more likely the state is to consider your assets marital make them available for property division.
Reach out to Bundren Law Firm P.C. to Protect Your Assets
If you’re concerned about your personal finances, it’s best to discuss your impending divorce with an experienced Tulsa divorce attorney. Bundren Law Firm P.C. can help. Attorney Mary R. Bundren has extensive litigation and courtroom experience to apply to your case, and she understands the divorce process might be emotionally draining and traumatizing. Our family law firm is committed to helping our clients achieve their goals and finding the best solution for their families. Let us see what we can do for you.
Contact us at (918) 992-3300 or fill out our online form to schedule a case consultation with us today.